Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Business Partners
Hospitals and Other Providers
Physicians and Other Practitioners

Career level:

Executive
Experienced Professional
Mid-Senior

Recommended for:

Billing
Collections
Patient Access
Patient Financial Services
Revenue Cycle

Delivery Method:

Self Study

Advance Preparation:

None

Prerequisites:

Knowledgeable in establishing patient payment plans

Course Availability:

1 Year

On Demand Webinar | Intermediate | Revenue Cycle

How Meadows Regional Medical Center's patient payment plan improved collections and reduced bad debt

On Demand Webinar | Intermediate | Revenue Cycle

How Meadows Regional Medical Center's patient payment plan improved collections and reduced bad debt

Description

More than half of patients are concerned about their ability to pay a medical expense of $1,000 or less. Payment plans are one way to ease patients' financial concerns while increasing collection rates. Many hospitals don't offer these payment plans, and those who do aren't talking to patients about their payment options. Meadows Regional Medical Center will share its success in developing payment plans that resonate with patients. Meadows Regional boasts a 98% collection rate for no-interest plans and a 79% for low-payment plans. The medical center's approach boasts revenue, patient engagement and patient satisfaction.
After this program, you'll be able to..
  • Discover the difference long term patient financing made for Meadows Regional Medical Center in improving collections and reducing bad debt
  • Learn to implement a new model for patient payment plans, the keys to communicating patient financing options and the skills required to manage this approach

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